You are currently viewing David Ellison Poised to Become a New Mogul in a Diminished Hollywood

David Ellison is poised to soon run Paramount Pictures, among other entertainment assets. But what does that mean in a fractured cultural landscape?

In 1994, when Sumner M. Redstone bought Paramount Pictures for about $10 billion, the equivalent of about $22 billion today, he did more than just take over a company. He ascended a cultural throne.

Studios like Paramount — founded in the 1910s, operating soundstage complexes and controlling vast film libraries — were valuable businesses on the verge of hitting a mother lode: the DVD. Perhaps more important, however, they gave their owners a precious identity as certified members of the cultural elite.

Movies still towered above everything. Top ticket sellers in 1994 included touchstones like “The Lion King,” “Schindler’s List,” “Interview With the Vampire,” “Mrs. Doubtfire,” “Philadelphia,” “Speed” and “Pulp Fiction.” In 1995, when “Forrest Gump” — a Paramount release — won the Oscar for best picture, more than 48

Keep reading this article on The New York Times Media & Advertising.

Leave a Reply